Ted baker, the British designer brand, has reported a rise of 14.9 percent in its revenues for the year ended January 28, 2012 at £215.6 million, compared to £187.7 million in the previous year. The group's profit before tax increased by 0.1 percent to £24.3 million and basic earnings per share rose by 1.7 percent to 42.2 pence.
The board also recommended a final dividend of 16.25 pence per share, making a total of 23.4 pence for the year, an increase of 13.6 percent compared to 20.6 pence in 2011.
While commenting on the results, CEO Ray Kelvin CBE said: "This has been a very exciting year for the Ted Baker brand. We have further developed our presence in established markets with new stores in Europe, the US and Hong Kong and laid strong foundations to support growth into new markets in 2012 with the recent openings of our first store in Japan and an opening in Korea as well as exciting new openings planned in London, Fifth Avenue, New York, Toronto, Canada and China later this year. The group's excellent results for the year, delivered against a challenging trading backdrop, are testament to the strength of the Ted Baker brand, our collections and, above all, the energy and commitment of our team in bringing Ted to the world stage."
According to Ted Baker, its Spring/Summer collections were appreciated by consumers and received a positive response, hence it believes that the group is well placed to deal with the challenges and opportunities ahead. It is excited by its planned expansion and investment in its businesses overseas, which include openings on Fifth Avenue, New York, Toronto, Canada, Tokyo, Japan, Seoul, Korea and Beijing, China.
The designer brand continues to ensure that its costs and commitments are controlled and in line with trends anticipated for 2012. It is focused on the strategy of multi-channel distribution and looks forward to the further expansion of the brand in existing and new international markets.